After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Revolut faced orders to fix ‘deficiencies’ in product launches in Europe June 10, 2026 Revolut faced a regulatory slap-down from the European Central Bank last year as restrictions were placed on its operations in the continent. Europe’s most valuable fintech company had its permission to release new products across the 27 countries covered in the European Economic Area temporarily suspended last summer. The bank was instructed to rectify “deficiencies” [...]
As it happened: FTSE 100 see-saws amid global jitters as market outlook turns ‘risky and dangerous’ June 10, 2026 Good morning and welcome back to the City AM liveblog. Markets were not getting too excited at the beginning of this week when Donald Trump said a peace deal with Iran was “very close”. And last night’s exchange of strikes might explain why. The US has said it completed a series of strikes against Iran [...]
From mild to wild: What impact will AI have on banking jobs? June 10, 2026 Top banking bosses have issued their AI verdict after Standard Chartered stunned the sector with plans for sweeping job cuts last month. In this week’s column Samuel Norman looks at whether a reckoning could be on the horizon. The big-name banker must have known how the conversation would go when he arrived for lunch with [...]
Lloyds taps $160bn fintech giant to boost small business tech June 9, 2026 Lloyds Bank has sealed a partnership with a $160bn (£119bn) fintech giant to ramp up its payments tech for small-business clients. The blue-chip banking giant has agreed a tie-up with Stripe that will see Lloyds leverage the fintech’s payment infrastructure to provide a suite of tools for its small-business customers. The new offering, named Lloyds Accept, [...]
Banks ‘not ready’ for motor finance scheme, says City watchdog June 9, 2026 The City watchdog has warned that motor finance lenders are “not as ready as we would expect” for the introduction of its long-awaited redress scheme. Nikhil Rathi, chief executive of the Financial Conduct Authority (FCA), has written to the Treasury Committee following inquiries around the legal challenges to its car mis-selling scheme. The regulator published [...]
Soaring petrol prices and Devil Wears Prada 2 help consumer spending return to growth June 9, 2026 Soaring fuel prices and box office hits helped consumer spending return to growth in May, according to fresh data from Barclays. Consumer card spending was up 0.8 per cent year-on-year last month, following a 0.1 per cent dip in April. The rise came as essential spending jumped 0.7 per cent, led by a near 12 [...]
Nationwide boss Debbie Crosbie banks £4.7m payday after Virgin Money deal June 8, 2026 The boss of Nationwide has seen her pay almost double since the building society’s blockbuster takeover of Virgin Money. Debbie Crosbie, who has steered the mutual since 2022, bagged a £4.7m pay packet in the last financial year, up from £2.5m the year prior. The mammoth uplift was driven by the cash and bonuses from [...]
Banks call for ‘political mandate’ to bolster European defence June 8, 2026 The banking industry has issued a rallying call for a “political mandate” from the UK and EU in a bid to get regulators to open the taps to a fresh flood of defence financing. A new report from UK Finance – which represents the nation’s financial services giants from Lloyds to Revolut – has called [...]
Natwest to pump £50m into branches after shuttering over a thousand June 5, 2026 Natwest is planning to beef up its branch network after being one of the leading banks to take the axe to its physical presence over the last decade. The blue-chip banking giant will pump £50m into its network over the next 18 months and has pledged not to close any branches until at least 2029. [...]
Bunq: Revolut rival eyeing up UK banking licence bid June 4, 2026 Europe’s second largest digital bank is gearing up for a bid for a UK banking licence, City AM can reveal, as the firm puts its hat in the ring in the fight to claw market share from fintech leader Revolut. Bunq – which reached 20 million users in just a decade – is understood to [...]